Agricultural auctions are events where farmers and buyers come together to sell and purchase agricultural products, such as crops, livestock, and equipment. These auctions can be held in person or online, allowing for competitive bidding among interested parties. The highest bidder typically wins the item, ensuring that prices reflect current market demand. These auctions play a crucial role in the agricultural economy by providing a platform for farmers to sell their goods directly to consumers or wholesalers. They help establish fair market prices and can also facilitate the exchange of information about best practices and trends in the agriculture industry.